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Enterprise Resilience Blueprint: Managing Enterprise Risk in a Volatile Context

Learn Enterprise Risk Management through concepts such as ISO 31000, COSO ERM, Emerging Risks, Risk Assessment, Risk Appetite, Business Resilience, and Risk Culture to build an organization that recognizes risks early, makes sound decisions, adapts effectively, and systematically prepares to deal with uncertainty.
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Fastlearn10x Dr. Kritipong Dechsongcharas
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The business world today is not just about "the risks we know."“

But it is also fraught with uncertainties that can arise simultaneously, be interconnected, and impact organizations faster than ever before.

The economy is volatile.
Technology is changing rapidly.
AI is changing the way we compete.
Cybersecurity has become a business risk.
Supply chains can be disrupted by events on the other side of the world.
ESG regulations and expectations are increasing.
Meanwhile, the behavior of customers and workers is constantly changing.

The important question, therefore, is not just...

“"How can we prevent these risks from occurring?"”

But...

“"If unexpected events occur, how quickly will our organization be able to foresee them, make good decisions, and recover?"”

This is where... Enterprise Risk Management and Enterprise Resilience It has become a key capability for modern organizations.

 

Many organizations have a risk register.

There is a Probability × Impact table.

An annual risk assessment is conducted.

And a risk report was sent to management.

But the problem is…

When real-world situations arise, risk doesn't simply appear in the cells of an Excel spreadsheet.

One risk can affect many others simultaneously.

Cyber risk can become operational risk.
Operational risk can become financial risk.
Financial risk can affect reputation.
And reputation can backfire and negatively impact an organization's competitiveness.

Risk management should therefore not stop at simply "completing the risk register."“

But it must help the organization to be able to...

Anticipate — To foresee risks in advance.

Assess — Systematically assess the impact.

Respond — Choose the appropriate way to respond.

Adapt — To adjust to changing circumstances.

Recover — To recover from an unexpected event.

And finally...

Thrive — Turning uncertainty into business opportunities.

 

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Enterprise Resilience Blueprint: Managing Enterprise Risk in a Volatile Context
What is Enterprise Risk Management (ERM)?
Enterprise Risk Management is an approach to managing risk at the organizational level that views risk in conjunction with Strategy, Objectives, Decision Making, and Performance, rather than managing each risk in isolation.
How does Enterprise Resilience differ from Risk Management?
Risk Management focuses on identifying, assessing, and managing risks, while Enterprise Resilience looks beyond that to an organization's ability to prepare, cope with, adapt, recover, and continue doing business when unexpected events occur.

Both concepts should therefore work together.
What are the differences between ISO 31000 and COSO ERM?
Both are important approaches to enterprise risk management, but they have different focuses and structures.

ISO 31000 provides principles and guidelines for designing risk management processes that can be applied to a wide variety of organizations.

COSO ERM, on the other hand, focuses on integrating risk into an organization's strategy and performance.

This course will help learners gain an overview and understand how to apply both concepts.
What is Risk Appetite, and why do organizations need it?
Risk appetite refers to the level or type of risk an organization is willing to accept in order to achieve its business objectives.

Because it's virtually impossible to do business without taking any risks.

Defining risk appetite helps organizations create a balance between...

Risk × Opportunity × Return

And it helps executives make more consistent decisions.
What are emerging risks?
Emerging risks are risks that are developing or risks for which the organization does not yet have sufficient information to assess their impact.

For example, AI, cybersecurity, geopolitics, climate change, supply chain disruption, or changes in regulations.

Early identification of emerging risks allows organizations time to prepare before these risks become major problems.
Does this course focus on creating a Risk Register?
A risk register is part of risk management, but it's not the ultimate goal of the course.

This course aims to provide learners with an understanding of the logic of risk management, from identification, assessment, response, and monitoring to building enterprise resilience, so that they can apply it to real-world organizational contexts.
Is this course suitable for people who don't work directly in risk management?
Perfectly suited.

Because risk management should not be the responsibility of the risk department alone.

Executives, managers, HR supervisors, finance managers, operations managers, strategy leaders, or project leaders all constantly have to make decisions about risk and opportunity.
Is a background in Risk Management required before enrolling?
No, it's not necessary.

The content is designed to start with basic concepts before gradually connecting to more complex frameworks and tools, making it suitable for both beginners and those who want to review the overall picture of Enterprise Risk Management.
How does Business Resilience relate to Business Continuity (BCP)?
Business continuity is one element of preparing an organization to be able to continue its critical activities when disruptions occur.

Business resilience, on the other hand, has a broader scope, encompassing the ability to predict, prepare, cope, adapt, recover, and learn from events to make the organization stronger in the future.
Why is risk culture important?
Even with the best frameworks and systems in place, if employees are hesitant to report problems, management views risks negatively, or there's a culture of blame, true risk information may not reach decision-makers.

Risk culture is therefore one of the key elements of effective enterprise risk management.
How does the Triple Bottom Line relate to Risk Management?
Modern business decisions consider not only short-term profits, but also their impact on People, the Planet, and Profit.

Integrating the Triple Bottom Line concept with Risk Management helps organizations view risk from a broader perspective and supports sustainable long-term growth.
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Course details
Duration 1 hour 23 minutes
Lectures 8
Video 7 lessons
Quizzes 1
There is a certificate upon completion of the course.
Unlimited re-learning for life.
Access your classes from any device, including smartphones, tablets, computers, and smart TVs.
Basic info
  • Understanding the evolving role of Enterprise Risk Management in a highly volatile business world.
  • Linking Risk Management to Strategy, Performance, and Decision Making.
  • Understand the key principles of ISO 31000 and COSO ERM.
  • Systematically identify and categorize both current and emerging risks.
  • Analyze the interconnectedness of risks that may affect multiple parts of the organization.
  • Assess the likelihood and impact of the risk.
  • Understand the difference between inherent risk and residual risk.
  • Understand and apply Risk Appetite, Risk Tolerance, and Risk Capacity.
  • Choose a risk response strategy that is appropriate for the situation.
  • Understand the principles of building business resilience and organizational resilience.
  • Analyze human factors that may be the cause or accelerating factor of the risk.
  • Understand the importance of risk culture and the role of leadership in creating a risk culture.
  • Use Key Risk Indicators to monitor risks.
  • Linking Risk Management with Sustainability and the Triple Bottom Line.
  • Shift your perspective from “risk avoidance” to “risk management to create opportunities.”
Intended audience
  • Executives and Senior Management
    Those who need to make strategic decisions under uncertainty and want to view risk management as part of their business strategy.

  • Manager and supervisor
    Those who are responsible for the goals, results, team, and risks that may affect the organization.
  • Risk Management and Internal Control
    For those who wish to review and enhance their understanding of Enterprise Risk Management, ISO 31000, and COSO ERM.

  • Internal Audit and Compliance
    That requires working with business units to oversee, control, and assess organizational risks.

  • Strategy and Business Planning
    The aim is to connect risk with strategic planning and business decision-making.

  • Finance and Accounting
    This requires assessing the financial, investment, budget, and business performance impacts.

  • HR and People Management
    This involves managing People Risk, Human Factors, Leadership Risk, and building a Risk Culture within the organization.

  • Sustainability and ESG
    It is necessary to link Environmental, Social, and Governance Risks to the organization's strategy and performance.

  • Business owners and entrepreneurs.
    The goal is to build a business that not only grows but also can cope with and recover from unexpected events.
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